Profile: RPC Inc (RES)
27 May 2016
RPC, Inc. (RPC), incorporated on January 20, 1984, is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The Company operates through two segments: Technical Services and Support Services. RPC acts as a holding company for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others.
The Company's Technical Services include Pressure Pumping, Downhole Tools, Coiled Tubing, Snubbing, Nitrogen, Well Control, Wireline Services and Fishing. Pressure pumping services are provided to customers throughout Texas, and the Appalachian, mid-continent and Rocky Mountain regions of the United States. Pressure pumping services involve using truck or skid-mounted equipment designed and constructed for each specific pumping service offered. Principal materials utilized in the pressure pumping business include fracturing proppants, acid and bulk chemical additives. Pressure pumping services include Fracturing and Acidizing. The fracturing process consists of pumping fluid gel and sometimes nitrogen into a cased well at sufficient pressure to fracture the formation at desired locations and depths. Fracturing services are performed to stimulate production of oil and natural gas by increasing the permeability of a formation. Acidizing services are also performed to stimulate production of oil and natural gas, but they are used in wells that have undergone formation damage due to the buildup of various materials that block the formation. Acidizing entails pumping large volumes of specially formulated acids into reservoirs to dissolve barriers and enlarge crevices in the formation, thereby eliminating obstacles to the flow of oil and natural gas.
The Company's Thru Tubing Solutions (TTS) provides services and downhole motors, fishing tools and other specialized downhole tools and processes to operators and service companies in drilling and production operations, including casing perforation at the completion stage of an oil or gas well. Its coiled tubing services involve the injection of coiled tubing into wells to perform various applications and functions for use principally in well-servicing operations and to facilitate completion of horizontal wells. Snubbing (also referred to as hydraulic workover services) involves using a hydraulic workover rig that permits an operator to repair damaged casing, production tubing and downhole production equipment in a high-pressure environment. A snubbing unit removes and replaces downhole equipment while maintaining pressure on the well. RPC stores and transports nitrogen and has a range of pumping unit configurations that inject nitrogen in its various applications. Some of these pumping units are set up for use on offshore platforms or inland waters. Cudd Energy Services specializes in responding to and controlling oil and gas well emergencies, including blowouts and well fires, domestically and internationally.
The Company's Wireline services are classified into two types of services, including slick or braided line and electric line. In both, a spooled wire is unwound and lowered into a well, conveying various types of tools or equipment. Slick or braided line services use a non-conductive line primarily for jarring objects into or out of a well, as in fishing or plug-setting operations. Electric line services lower an electrical conductor line into a well allowing the use of electrically operated tools, such as perforators, bridge plugs and logging tools. Fishing involves the use of specialized tools and procedures to retrieve lost equipment from a well drilling operation and producing wells. It is a service required by oil and gas operators whose equipment are lost in a well. In some cases, the Company creates customized tools to perform a fishing operation. The customized tools are maintained by the Company after the particular fishing job for future use if a similar need arises.
The Support Services business segment offers various service lines, including Rental tools, Oilfield Pipe Inspection Services, Pipe Management and Pipe Storage, Well Control School and Energy Personnel International. The Company rents specialized equipment for use with onshore and offshore oil and gas well drilling, completion and workover activities. The drilling and subsequent operation of oil and gas wells generally require various equipment. The Company's facilities are located to serve the staging points for oil and gas activities in Texas, the Gulf of Mexico, mid-continent region, Appalachian region and the Rocky Mountains. Its Pipe inspection services include Full Body Electromagnetic and Phased Array Ultrasonic inspection of pipe used in oil and gas wells. Its customers are oil companies and steel mills, for which it provides in-house inspection services, inventory management and process control of tubing, casing and drill pipe. Its Well Control School provides training for the oil and gas industry both in the United States and in limited international locations. Its Energy Personnel International provides drilling and production engineers, well site supervisors, project management specialists, and workover and completion specialists on a consulting basis to the oil and gas industry.
The Company competes with Halliburton Company, Baker Hughes and Schlumberger Ltd.
2801 Buford Hwy NE Ste 520
ATLANTA GA 30329-2143